Check out these headlines from around the real estate world.
"The Next Big Thing on Wall Street"
"The business of buying foreclosed homes, renovating and renting them out is morphing from a largely mom-and-pop business into the next big thing on Wall Street.Blackstone Group LP has become the biggest U.S. investor in single-family rental homes by spending more than $1 billion since the start of 2012 to acquire more than 6,500 foreclosed homes ... fresh evidence that the purchase of foreclosed homes, which began as a mom-and-pop pursuit, is gaining legitimacy among the biggest private-equity firms."
"A Land Grab Unlike Anything We’ve Ever Seen"
"The Blackstone shopping spree, and those of half a dozen other big investment firms and hedge funds, could radically change the local home landscape, as big-money brokers compete with first-time buyers and mom-and-pop landlords over homes in tight supply.'It's a land grab unlike anything we've ever seen," said Peter Murphy, CEO of Home Encounter, the largest manager of rental homes in Tampa Bay. "You're going to drive through parts of town and all of it is going to be institutionally owned.'"
"Wall Street’s Hottest Investment Idea:
Single Family Homes"
"Large real estate investment trusts and private equity funds have generally focused on commercial real estate. That appears to be changing, and fast. Wall Street's hottest investment idea is now single family homes.""Faster Than Anyone Imagined"
"Legendary investor Warren Buffett seemed to fire a starter pistol last February when he said he would buy 'a couple hundred thousand' homes nationwide. It's hard now to find a private equity firm on the planet that doesn't have a strategy in this space. The market is growing faster than anyone imagined.""Investors Raise $8 Billion for Acquisitions"
"Larger Wall Street investors rushing into the market have raised between $6 billion and $8 billion, with the intent to acquire between 40,000 and 80,000 foreclosed homes in the months ahead."
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